HK Stock Market Move | LENOVO GROUP(00992) falls nearly 8%, currently leading blue-chip declines; concerns amplified by shrinking PC shipments and AI infrastructure financing risks.

LENOVO GROUP(00992) fell nearly 8%, currently leading blue-chip declines. As of press time, it is down 7.56% at HK$25.94, with turnover of HK$1.954 billion. On the news front, recent data from IDC and Omdia show that global PC shipments in the third quarter of 2026 fell more than 20% year on year, contracting for two consecutive quarters with the decline widening. Among them, although Lenovo maintained the global No. 1 position with shipments of 14.9 million units, its shipments fell 22.6% year on year. In addition, despite the rebound momentum in US tech stocks overnight, Asian markets remained weak today, and the recent sell-off in CoreWeave bonds has become a signal for Wall Street to re-examine the financing risks of AI infrastructure. CLSA issued a research report stating that LENOVO GROUP's server business is accelerating, and it raised its forecast for adjusted net profit for the second quarter of fiscal year 2027 ended September this year to US$1.18 billion from the previous US$1.1 billion, 13% higher than market expectations, mainly benefiting from better-than-expected revenue and margins in the server business. The brokerage estimates that the company will record a non-cash loss of about US$1.9 billion from the revaluation of warrants, so reported net profit for the second quarter is expected to be a loss of US$630 million.